Citizens Support: Crowd Funding in Austria
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1 Citizens Support: Crowd Funding in Austria Andreas Dragosits Brussels June 23, 2015
2 About isn innovation service network Crowd Sourcing subsidiary (2007) Spin-off from TU - Technical University Graz, Austria (2001) Establishment of a subsidiary in Slovenia (2002) Pioneer and leading Austrian company in the field of innovation services and so called Crowd Business : Crowd Sourcing Crowd Funding (CF) Member of the ECN European Crowd Funding Network Crowd Funding subsidiary (2012)
3 isn Business Model & USP Crowdsourcing Services Crowdfunding Crowd- Sourcing Idea- Management Social Network Filtering Enrichement of Ideas Pre- Check Market Fitness Consul@ng Project Management Interim Management Service Design Prototyping Mobiliza@on Stakeholder Mobiliza@on Crowd Investors Financing / Realiza@on Con@nous Informa@on Providing / Repor@ng
4 Ideas
5 Crowd isn innovation service network GmbH Andreas Dragosits
6 Main Principle NOT: BUT: 1 investor fincancing micro investors each isn innovation service network GmbH = Andreas Dragosits
7 Crowdfunding
8 CF Models Donation based - giving for nothing in return Reward based - donation gets you a promised product Lending based - money returned with interest Equity based - owning a part of the project / company CF Definition Crowdfunding can be defined as a collective effort of many individuals who network and pool their resources to support efforts initiated by other people or organizations. This is usually done via or with the help of the Internet... (De Buysere, et al., 2012, p.9)
9 CF is more than just collecting money validation of product features market segmentation pre-sales customer feedback word-of-mouth marketing stable, committed shareholding structure
10 Crowdfunding doesn t substitute but complement other financing instruments in early stages
11 Fundraising Development Worldwide ($ bn) e Figures doubling app. every year 2014 $ 16,2 bn: N-America: $ 9,5 bn (59%) Europe: $ 3,3 bn (20%) Asia: $ 3,4 bn (21%) 2014 category split: 41 % business & entrepreneurship 19 % social causes 12 % films & performing arts 6 % real estate $ 35,5 bn expected Source: CF Crowdfunding Industry Report
12 GB # 1 north-south and west-east divide Austria amongst the mid-ranged countries potential in Austria in 2 3 years: 65 Mio. Source: Moving Mainstream - The European Alternative Finance Benchmarking Report, University of Cambridge, 2015
13 # of platforms goes hand in hand with volume Only a few CFplatforms in Austria GB # 1 Source: Moving Mainstream - The European Alternative Finance Benchmarking Report, University of Cambridge, 2015
14 Finance Volume per Capita p.a. Austria ranked amongst the last third (app. 40 Cents per capita p.a.) gap to Germany 4x Netherlands 12x GB 100x there is a high growth potential for CF in Austria volumes doubling every year Source: Moving Mainstream - The European Alternative Finance Benchmarking Report, University of Cambridge, 2015
15 Overall Situation in Austria Crowd (Austrians) almost no real existing venture capital culture in Austria; on the other hand there is a comparable high savings rate (7,5%, EU av.: 4,7%) ; Austria is still a rich country (monetary assets: > 500 bn or > per capita on av.) Austrians a very conservative: saving books, life insurances, Economy only very small growth rate almost stagnating SME with limited access to credit lines from the financial services industry Banks grant almost no interest rates for savings à investors searching for alternatives have problems to finance the SME segment (à Basel III) more and more interested to cooperate with CF-platforms Government (goals) wants Austria to become innovation leader in Europe in 2020 (now ranked in the mid-field) supporting especially the SME segment by providing new (venture) capital means partly by supporting the CF idea à impulse for the economy; job-creation new special law ( Alternativfinanzierungsgesetz ) should pass the parliament in a few weeks
16 New Law for CF in Austria Main aspects of the so called Alternativfinanzierungsgesetz Financing Limit / Investor / Project Up to Euro: no limitation Above Euro: only if your monthly net income exceeds certain levels Information Requirements Information-Sheet : ,5 Mio. Euro Prospectus light : 1,5 Mio. 5,0 Mio. Euro Full Capital Market Prospectus: above 5 Mio. Euro (actual: Euro) Defined role and duties of CF-platforms Check investment offers Information provider Recommendation for risk spreading (appropriate guidance on and warnings of the risks associated with financing projects)
17 Andreas Dragosits Managing Partner, CFO isn innovation service network Hugo-Wolf-Gasse 6a, 8010 Graz, Austria Phone +43 (0) Mobile +43 (0) andreas.dragosits@innovation.at
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